Hollenbeck Center

HOLLENBECK CENTER

CLASS B STABILIZED OFFICE INVESTMENT WITH UPSIDE AND LONG-TERM STABLE CASH FLOW POTENTIAL
Excellent opportunity to acquire Hollenbeck Center at 2149-2155 E. Garvey Avenue N. in the City of West Covina, which is a uniquely situated two-story, multi-tenant, Class B office building located in the San Gabriel Valley. The property has exceptional visibility from the westbound San Bernardino (I-10) freeway; one of the most traveled freeways in Southern California. Centrally located between three counties allows for easy travel throughout Los Angles County, San Bernardino County, and Orange County. The property totals ±27,891 square feet and is currently 96.37% leased to 24 tenants including Lindora, Inc.

The building has a distinctive design following the curve along E. Garvey Avenue N. with two (2) two-story buildings connected by a central stairway and roofline with an attractive professional landscaped grounds. Signalized corner location at Hollenbeck Avenue and E. Garvey Avenue N. allows for maximum traffic exposure of this property, in addition to the ±223,138 daily traffic count from the San Bernardino freeway.

A major feature in demand with tenants, is this building’s functional and efficient interior office suites ranging from 460 to 3,000 square feet, allowing for maximum flexibility as tenants expand and contract within the property. This submarket caters to small to medium sized business which makes the floor plate of this property ideal.

VALUE ADD OPPORTUNITY FOR AN INVESTOR
The new owner will benefit from the currently below market rents with no tenant occupying more than 11.61% of the building. The average of in-place leases are approximately 11% below current market, offering the ability to raise rents and substantially increase cash-on-cash return.

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